MyEtherWallet has launched an NFT collection entitled ‘ETH Blocks’. Each is a block from the Ethereum Blockchain which has been tokenised, and can be minted as an NFT by users of the MyEtherWallet via their website.
According to MEW, a number of blocks have already been claimed, with Ethereum’s founders snatching up blocks 1-10. There are also milestones within the history of the Ethereum Blockchain that have been listed in a month-long auction. These milestones could be forks, network upgrades, or just numerical milestones. The proceeds of these auction will be donating to organisations such as Wikipedia, Girls Who Code, NPR, The Skid Row Housing Trust, and more.
So, do these NFTs serve a purpose?
Well, not really. Much like a lot of NFTs, they hold value based on people’s perception of their value. Perhaps you made an important transaction on the Ethereum Blockchain that changed your life, and you would like to own that particular block as an NFT to further immortalise that transaction. You place value on it, sentimental value, the same is true of others. I’m sure we all have that one block that holds some importance to us. I for one was rather paper-handed at one point, and I may have to find the block that holds that transaction so that I may purchase it as a reminder myself to perhaps embrace the diamond hands more often.
It’s an interesting project that MEW has carried out, and I am genuinely curious how much people might bid for these historical milestones. Regardless of their purposelessness, I reckon these NFTs will be continuously snapped up and traded throughout the crypto-community, and will offer a beautiful new way for us to all appreciate our crypto-history together. It will also be interesting to see the unique ways in which people might display their ETH Block(s), and embrace the creativity that the community has shown time and time again.